#Trade

2023 marks the 50-year anniversary of diplomatic relations between Australia and Vietnam, one of the fastest growing economies in Southeast Asia. This anniversary comes as the two-way agriculture, fisheries and forestry trade between the countries has grown from strength to strength, surpassing $6 billion for the first time in 2022 (ABS 2023).

As the world’s fourth biggest economy with 280 million people, Indonesia’s fast-changing income levels, diet, urbanisation and technology adoption offers high-value opportunities for premium Australian fruit, nut and vegetable exports.

A joint effort by the red meat sector and government has delivered sought-after shelf-life extensions for vacuum-packed chilled sheepmeat and beef exports to key markets in the Middle East. However, innovative packaging and freight solutions are still required to extend shelf life of fresh sheepmeat carcase exports – which accounts for the bulk trade to the Middle East – to capture similar value and recover from the COVID-19 induced airfreight capacity crunch.

A combination of rich natural resources, forward-thinking farmers and a fast-growing entrepreneurial community makes Iowa the perfect fit for Australian agritech entrepreneurs looking to develop technologies in the US market.